assessed valuation

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assessed valuation

The value of a property as determined by a municipality for real estate tax purposes; often this valuation is less than the true market value of the property.
References in periodicals archive ?
New construction, which increases the number of parcels and thus the total assessed value
5 percent for property with a value up to 10,000 lats, 1 percent if the assessed value is between 10,000 lats and 20,000 lats, 1.
Property owners are taxed at the lower of either the market value or the assessed value.
The water bond would add about $10 per $100,000 assessed value to people's property tax.
But if a property's market value sagged so severely that it dropped below the value it was assessed at by the county, the market value would in effect become the new assessed value, and the taxes would drop.
8 percent would support paying $25 per $100,000 assessed value, and 55.
other than general maintenance and repair) may qualify for a partial exemption so long as such improvements do not increase the overall assessed value of the home by more than 15% of SONYMA's price limits.
Even including overlapping debt, the debt to assessed value ratio is low at 1.
Under Measure 50, if a property's market value sagged so severely that it dropped below the value it was assessed at by the county, the market value would in effect become the new assessed value and the taxes would drop.
Under Proposition 13, home buyers pay taxes based on the assessed value of the home at the time of purchase.
Those numbers do not compare well with assessed values on the newest late-1980's prime, Class A properties that fall out closer to $11 and $12 a foot.
So if real market value drops below the assessed value, it pushes down the assessed value and cuts your tax bill.